Growing Pains HURT! Life At A Startup.

Topic 22141 | Page 3

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Jenny's Comment
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I suppose I should clarify the new acquisition added 100 trucks to our 75.

G-Town's Comment
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I suppose I should clarify the new acquisition added 100 trucks to our 75.

Acquisition mode...so now I might be raining on your parade...

There will come the day when the current buyer, your company will become the future seller. Reality.

Keep that in mind and realize when that happens the relationship you have with executive management may cease to exist. Especially true if they sell to a large company.

Do you know if the owner has an exit strategy? If so, as a "founder driver" how does the exit strategy affect you if you are still employed during the sale? My point, you took a chance here, have sweat equity in the company's growth...determine if that has an actual value during the sale of the company.

Jenny's Comment
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I have considered this, but minimally. The last company he started was sold at around 300 trucks, which we are quickly approaching. He had a non compete clause which he honored, and when it expired he offered to buy back the company, it had been sold again to a mega carrier, who would not make a good enough deal. So he started another.

My income increased by 33% last year, even with the lower mileage months, compared to the prior year at May (which also included training/mentoring during the summer). I'm looking at another increase of 15% above that just in the mile gain I've seen in the last 6 months. I'm trying really hard not to count the chickens before they hatch, however if these numbers come to fruition, my sweat equity will be compensated for in my eyes anyway.

I say minimally considered because of the pay, and frankly, I don't want to think about it yet. The things I've learned mechanically about the trucks and the skills I've gained otherwise are almost unquantifiable for me. I paid ( and am still paying) a large sum for a college education that I never sought employment with. I'd say I don't use it, but I do every day. So I am not ready to consider the what ifs of a sale, and my value in such.

My knee jerk reaction is he's not going to sell, he'll go to his grave trying to make this work, and that is an even scarier thought than a sale. Again, knee jerk and still just enjoying the pool of knowledge I'm gaining.

Brett Aquila's Comment
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I had written another response that talked about the fact that there's always people in every industry who start companies, grow them to a certain point, then sell them for profit and start another one. Trucking is an especially good industry to do this with because it's a commoditized industry where you need scale to improve your profits. There are always a lot of larger companies looking to buy smaller ones.

Before I submitted the comment I noticed that G-Town had it covered so I set it aside. Now you've said:

The last company he started was sold at around 300 trucks

So there you go. Your knee jerk reaction that he'll stick with this company to his grave is based on what? A good businessman doesn't get attached to a company, they get attached to making a profit. A good investor in stocks doesn't become attached to a stock, they become attached to the concept of growing their money.

When you become attached emotionally to a business or a stock you can become blind to the realities of the situation you're facing. Reality always trumps wishful thinking. Hope is not a strategy.

He may very well plan to keep this company long term but I suspect there's more money in selling a growing trucking company than there is in keeping one.

BMI:

Body mass index (BMI)

BMI is a formula that uses weight and height to estimate body fat. For most people, BMI provides a reasonable estimate of body fat. The BMI's biggest weakness is that it doesn't consider individual factors such as bone or muscle mass. BMI may:

  • Underestimate body fat for older adults or other people with low muscle mass
  • Overestimate body fat for people who are very muscular and physically fit

It's quite common, especially for men, to fall into the "overweight" category if you happen to be stronger than average. If you're pretty strong but in good shape then pay no attention.

OWI:

Operating While Intoxicated

Jenny's Comment
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Based on him trying to acquire the other company back.

Brett Aquila's Comment
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Based on him trying to acquire the other company back.

Well it might be pretty simple. He started the company small, grew it larger, and then sold it presumably at a profit. Then maybe he was hoping the new owners had messed it up enough that he can go in and acquire it for far less than he sold it for, get it back in good shape, and then sell it again for a profit.

This is one way money is made in the stock market. You simply buy a stock at a price lower than you think it's worth, hold it while it goes up, then sell it at a profit. You watch and wait to see if it drops below its reasonable value again, buy it again at that lower price, then sell it at a profit after it goes up.

Good business people don't get emotionally attached to a company at a level where they're willing to go down with the ship. You shouldn't bankrupt yourself because you're in love with a particular company. That doesn't mean you shouldn't be fiercely determined to succeed. In fact, you must be. But you have to know when to hold em and know when to fold em.

Patrick C.'s Comment
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On a warm summer's eve, on train bound for nowhere,

I met up with The Gambler, we were both too tired to sleep

PJ's Comment
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Jenny I get where you are coming from. I came where I am because of the family that owned the company and the way they did business. Then out of left field they sold the company to a international company. Oh boy😱😱 We are going through what I call a power play pains. The previous owners are contracted to stay on for 2 yrs and run the company. They first said no changes, then changes started 1 at a time. I actually was leaving because I didn’t want to deal with it. They were floored and called me in the office. Well actually I requested the face to face meeting. I walked away with a very nice pay raise and a 1 yr contract and I had some things in it to shield me from some things I think will happen. I also have a buyout clause if they want to get rid of me sooner. All my years working with attorneys I guess came in handy, lol. And yes my attorney reviewed it and signed off on it. They gave me the new truck on their own, lol. It took me all of 5 minutes and 1 phone call to secure a new job when I was going to leave. I love what I do, I just hate change. Moral to the story, I know changes are coming, and I secured my future for 1 yr. I wish you the best in your situation

Jenny's Comment
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Again, I'm just enjoying the ride. We shall see what the future holds.

Yes, changes are going to come, but I could have missed all the learning if I were scared.

PJ's Comment
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Not a thing wrong with that at all, IF you are in a place in your life to be able to do it. I am blessed I am. Everyone’s situation is different. Enjoy it and then do what you have to after that.

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